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Select a good or service, describe what it is and what the market for it looks like (buyers, sellers), and explain whether you believe it
Select a good or service, describe what it is and what the market for it looks like (buyers, sellers), and explain whether you believe it to be price elastic with regard to demand, price elastic with regard to supply, and a normal or inferior good based on an estimated elasticity of income coefficient. Please provide some details behind your explanation, even if you do not have actual values for the elasticity coefficients.
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